http://www.youtube.com/watch?v=VDNo8aNoF34
I never truly noticed how grayish the world was but wow. Not to say it's not a beautiful game, but this mod just adds more life to it.
I downloaded the self-installer and installed it. Smooth as silk.
Ran the game with the "Saturation Only" version, and no problems whatsoever. No crashing, no burps, and it looks GORGEOUS. In the snowy areas, what little color there is (like the red berries on the bushes) really pops, without looking over-done. My gray horse is a Palomino! Blood looks bloodier, flowers look flowerier, and green foliage is - get this - actually green!
I love it. Very nice, very necessary, and BTW very well done.
EDIT:
Afterthought...
I never noticed before that the world map is actually 3-D. It's a zoomed out model of the world. You can really see that with this mod enabled.